2025-23 5 Standard Deduction Mfj . For single filers, the standard deduction for 2024 will be $14,600, up from $13,850 this year. For married couples filing jointly, the standard deduction will be $29,200.
The personal income tax rate for tax years beginning in 2021 is 5.25%. Only the secular holidays of republic day, independence day and mahatma gandhi’s birthday are observed nationally.
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